2. Types of Middle-Income Countries and Lessons Learned from Their Experience

Crossing the middle-income trap requires not only a successful economic transformation, but also a successful social transformation. In the process of developing from the middle-income stage to the high-income stage, all countries will face enormous challenges of economic and social transformation, and different types of countries will encounter different problems in their respective middle-income stages. The middle-income trap problem is closely related to the economic, social, political, cultural, and other structural and institutional characteristics of various countries. Therefore, comparing and summarizing the successes and failures of different countries in overcoming the middle-income trap is of great significance in terms of providing precedents for China to learn from in completing economic and social transformation and successfully overcoming the middle-income trap.